Interviews

10.31.11

Ruth Madoff: 'What's a Ponzi Scheme?'

The most titillating bits of Ruth Madoff’s 60 Minutes interview—namely, her supposed suicide attempt—leaked into the press last week. But the whole thing aired on Sunday night, and Ruth insisted she never knew of her husband’s Ponzi scheme. “I mean, I trusted him,” she said. “Why would it ever occur to me that it wasn't legal? The business was—his reputation—was almost legendary.” According to her son, Andrew, her first question was, “What’s a Ponzi scheme?” Andrew also called his father’s actions “unforgivable,” saying he’d never speak with him again.